Trans-European network policy depends on financial instruments being available to support projects with the highest trans-European added value. This regulation establishes the conditions and procedures for granting Community aid to projects of common interest in the field of trans-European networks for transport, energy and telecommunications.

ACT

Regulation (EC) No 67/2010 of the European Parliament and of the Council of 30 November 2009 laying down general rules for the granting of Community financial aid in the field of trans-European networks.

SUMMARY

This regulation establishes the conditions and procedures for granting Community aid to projects of common interest in the field of trans-European networks for infrastructures in the fields of telecommunications, transport and energy.

Community aid may only be granted to projects of common interest. Parts of projects are also eligible when they form units which are technically and financially independent.

Community aid for projects can take one or more of the following forms:

co-financing of studies related to projects – except in exceptional cases, the Community contribution may not exceed 50% of the total cost of a study;

subsidies of the interest on loans granted by the European Investment Bank or other public or private financial bodies;

contributions towards premiums for loan guarantees from the European Investment Fund or other financial institutions;

direct grants to investments in duly justified cases;

risk-capital participation for investment funds with a focus on providing risk capital for trans-European network projects and involving substantial investment from the private-sector.

At least 55% of the funding for transport infrastructure projects should be allocated to railways (including combined transport) and a maximum of 25% to roads.

Conditions for financial aid

Community aid may be granted if the following conditions are fulfilled:

there is a financial obstacle to the achievement of a project;

the Community aid must not exceed the minimum necessary for the launch of a project;

except in exceptional circumstances, the total amount of Community aid must not exceed 10% of the total investment cost;

the Community aid must not, in principle, be granted to projects benefitting from other sources of Community funding.

The Commission may establish an indicative multiannual programme by sector to improve the efficiency of the European Union (EU). The programme will consist of projects of common interest in specific fields which require substantial funding over a long period of time. The programme must be reviewed, and if necessary revised, with regard to the effective progress of the projects.

Project selection criteria

Community aid is intended for projects that are potentially economically viable and for which the financial profitability at the time of application is deemed insufficient. The decision to grant Community assistance should also take account of:

the maturity of the project;

the stimulative effect on public and private finance;

the soundness of the financial package;

direct or indirect socio-economic effects, especially on employment;

the environmental consequences.

In particular in the case of cross-border projects, coordination between the various parts of the project must be taken into consideration.

Applications for financial aid

Applications for funding must be submitted to the Commission by the EU country concerned or, with the agreement of the EU country, by the body directly concerned. This regulation stipulates the information required for the assessment and identification of applications, including a provisional timetable and a description of control measures to be put in place by the EU country concerned over the use of the requested funds.

Reduction, suspension and cancellation of aid

The Commission may reduce, suspend or cancel aid for a project if, after examination, there is an irregularity or a failure to comply with one of the conditions, or a significant change in the nature of the project for which the Commission’s approval was not requested.

Except in exceptional circumstances, approved aid will be cancelled by the Commission if the project has not started within two years following the expected start date. The Commission may demand reimbursement of any aid paid if the project in question has not been completed within ten years.

Funding

The financial framework for the implementation of this regulation for the period 2000 to 2006 is EUR 4 874 880 000.